According to BlockBeats, Folks Finance, a DeFi protocol in the Algorand ecosystem, has begun supporting USDT as collateral following a vote by the G11 community on June 21. This move is expected to enhance flexibility and liquidity within the Algorand ecosystem, providing users with more choices and a better DeFi experience.
Algorand is a decentralized, scalable, and secure blockchain infrastructure. It offers transaction throughput at the speed of traditional finance, with instant finality, near-zero transaction costs, and 24/7 availability. From decentralized finance to generative NFT art, Algorand is powering future economic models. The platform was designed by Silvio Micali, a professor at the Massachusetts Institute of Technology and a Turing Award-winning cryptographer.